Some Endorsements Of A Plan For Standardizing The Dollar

Author : UNKNOWN. AUTHOR
Publisher : Forgotten Books
ISBN 13 : 9781330747629
Total Pages : 26 pages
Book Rating : 4.7/5 (476 download)

DOWNLOAD NOW!

Download or read book Some Endorsements of a Plan for Standardizing the Dollar (Classic Reprint) written by UNKNOWN. AUTHOR and published by Forgotten Books. This book was released on 2015-07-05 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: Excerpt from Some Endorsements of a Plan for Standardizing the Dollar Arthur T. Hadley, President of Yale University, New Haven, Conn.: "Your method of standardizing the dollar interested me very much when I first saw it suggested. The proposal offers great advantages. If the plan can be carried out it will, in my judgment, not only reduce price variations and go far toward solving the problem of the rising cost of living, hut will operate in the direction of a fairer distribution of wealth. Considerable fluctuations in either direction offer fortunate or unscrupulous speculators an opportunity to make profit at the expense of producer or consumer. There is one advantage of the plan which appeals to me strongly. If it were known that the Government was going to standardize the dollar in this way, people would not be in so much haste to make changes of price level in anticipation of added gold supplies. The mere fact that there was such an equalizing power in reserve might often prevent the necessity of its exercise. "I will own that when I first read of the plan I thought it would be very difficult to carry out in practice. On further consideration, I am confident that this difficulty is much less than I at first supposed; and that the advantage to be gained by the adoption of a project of this kind makes it worth while to meet and solve whatever difficulties are incident to its introduction." Royal Meeker, now Commissioner of Labor Statistics, Dept. of Labor, Washington, D. C.: "I think you have answered all difficulties. Your scheme seems to me to be the simplest and most practical scheme possible to he devised. I most heartily endorse your plan." From an article by Royal Meeker in the Newark Evening News, Newark, N.J.: "The difficulty of substituting a 'tabular standard' for our gold standard has heretofore proven insurmountable. Prof. Irving Fisher, of Yale University, has solved this riddle. He has stood the economic egg on end." Warren M. Persons, Harvard University, Cambridge, Mass.: "I can find no flaw in your scheme. You have satisfactorily met every difficulty that suggested itself to me. "It seems to me that the importance of securing a stable unit of purchasing power can hardly be over-emphasized. A fluctuating standard continually works widespread injustice that is felt by everyone, but the cause of that injustice is recognized by few. "The plan that you outline is admirable. It is simple; it is not dependent upon any theory concerning which there is conflict of scientific opinion; Its adoption would not be followed by the slightest economic disturbance; yet the results that would be achieved are of primary importance." Allyn A. Young, President Amer. Statistical Association, Cornell University, Ithaca, N.Y.: "Of the various plans which have been proposed for preventing these disastrous movements in the general price level, the one suggested by Professor Irving Fisher seems to me by far the best." Carroll W. Doten, Secretary Amer. Statistical Association, Mass. Institute of Technology, Cambridge, Mass.: "I believe you have proved, as far as such a problem is capable of proof in a deductive way, that your plan would work satisfactorily." About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com